Company Interview / the open: ASX to rise after Wall St highs

The local market is expected to open 28 points higher following a record reset on Wall Street. 

The S&P500 ended 17 points higher, along with the Dow and the Nasdaq closing 175 and 19 points higher, respectively. This marks the 8th and 6th record high of the year for the S&P and Nasdaq. 

In the US, weekly jobless claims unexpectedly fell to 7-week lows with indications employers may be holding onto staff despite a slowing jobs market. The US dollar rose against major currencies including the Euro, but the Australian dollar outperformed, extending RBA driven gains. 

Trump’s tariffs continued to dictate commodity markets, with oil falling more than 2% overnight on concerns about global growth, with Brent crude settling at $68.64 a barrel. Meanwhile copper rose 2.5%, with the commodity still digesting Trump’s 50% tariff announcement, and iron ore rose 3%.